LIVE FUTURES REPORT 02/02: LME tin's C/3M spread at $1,500/t backwardation, price hits new 2021 high

February 03, 2021 / www.metalbulletin.com / Article Link

The London Metal Exchange tin price continued its uptrend by setting a new 2021 high and a historic $1,510-per-tonne backwardation on its benchmark spread, while the rest of the base metals complex closed on a mixed tone on Tuesday February 2.

Tin's three-month price kept up its unabated rise on Tuesday despite a rising dollar, with the fundamentals for the metal superseding macroeconomic concerns that subdued other LME prices. The three-month price set a new year-to-date high of $23,435 per tonne during trading on Tuesday, before scaling back to $22,990 per tonne at the 5pm close, 0.5% lower than Monday's closing price. In light of dwindling stock (down to just 790 tonnes on the LME network on Tuesday) and the military coup to remove the democratically-elected government in Myanmar, a key tin producer,...

Recent News

China's gold holdings to central bank reserves still low

September 30, 2024 / www.canadianminingreport.com

China has broad effect on gold market

September 30, 2024 / www.canadianminingreport.com

Gold stocks mixed after previous week's huge gains

September 23, 2024 / www.canadianminingreport.com

Large TSXV gold multiple driven up by high Artemis weighting

September 23, 2024 / www.canadianminingreport.com

Monetary-driven precious metals outperform major base metals

September 09, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok